Media Release
8 January 2021
Fatfish Investee Minerium To Benefit From Uptrend of Cryptocurrencies
International tech venture builder firm, Fatfish Group Limited (“Fatfish” or the “Company”), is pleased to announce that the recent meteoric rise of cryptocurrencies – especially Bitcoin – over the past few months have significantly improved the operating conditions of Fatfish’s blockchain mining investee company, Minerium Technology Ltd (“Minerium”).
Bitcoin Price Fueled by Institutional Demand
Over the past few months, Bitcoin and cryptocurrencies in general has seen several important developments which has resulted in increased institutional adoption of cryptocurrecies as an alternative investment asset class. Many global funds have emerged to invest into cryptocurrencies on a very lorge scale basis.
The management of Fatfish believes that this has driven the recent sharp rise in price of cryptocurrencies, especially Bitcoin, which has been trading around US$35,000 to US$39,000 in recent days. Investment banking giant JP Morgan has publicly predicted Bitcoin price to rise up to US$146,000 long term.
This has significantly improved the operating conditions of Fatfish’s blockchain mining investee company, Minerium.
Ground-breaking Development Across Industry
Bitcoin and cryptocurrencies has major ground-breaking adoptions in major financial markets across the world.
For example, in December 2020, DBS Group Holdings – Southeast Asia’s largest bank headquartered in Singapore – launched the DBS Digital Exchange, having secured approval from the Singapore central bank, Monetary Authority of Singapore. The DBS Digital Exchange was touted as the first regulated platform in Singaopre for trading fiat money and cryptocurrency with backing from a traditional bank in Singapore.
Fatfish believes that this is a groundbreaking development. For a long time, institutional investment in cryptocurrencies was hampered by strict investment mandates and regulatory compliance. Now that cryptocurrencies such as Bitcoin has been formally recognised by regulators, institutional demand for cryptocurrencies will likely continue to drive cryptocurrencies’ prices moving forward.
Capacity Expansion and Positive Outlook
Minerium has been actively operating blockchain since its inception. It is in a position where it is currently looking to expand its blockchain mining infrastructure. The management of Minerium believes that the outlook for the blockchain mining technology sector is positive for the near and long term.
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About Minerium
Minerium is a blockchain mining technology firm that runs large scale blockchain mining facilities. Minerium brings professional blockchain mining efficiency to the forefront by extending its operations to various geographical locations where low cost energy is readily available.
Minerium’s blockchain mining farms are secure and equipped with efficient computational power specially designed for crypto mining. With highly trained and experienced operation team in place, Minerium was launched in October 2017.
About Fatfish Group Limited
Fatfish Group Limited (ASX: FFG) is a publicly traded tech venture firm with investments in the Southeast Asia and Nordic European region. FFG partners with entrepreneurs to build tech businesses via a co-entrepreneurship model. FFG focuses on emerging global technology trends, specifically FFG has been investing strategically across various sectors of video-games, esports, fintech and consumer internet technologies.
FFG owns a majority stake in publicly-traded Abelco Investment Group AB (NGM: ABIG), which is traded on the Swedish exchange, Nordic Growth Market.
FFG and Abelco operate from innovation hubs located in Singapore, Kuala Lumpur and Stockholm.
For more details, please contact:
ir@fatfish.co or visit www.fatfish.co